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Cobre Ltd (ASX:CBE)

ALERT: Price-sensitive ASX Announcement for CBE
Current share price for CBE : $0.415 0.085 (25.76%)+
Announcement
Release
7 Jul 2026 10:19AM
Price at Release
$0.330
Full Release
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Summary
Cobre Limited has announced its plans to significantly increase its ownership in the Sierra Atacama Copper Project through its subsidiary, Cobre Chile. Following a USD 12 million capital raise, Cobre Chile will own 54.38% of the total issued share capital, with pathways to potentially increase this interest to 63.5% in both Sierra Atacama and Bergbau Wagen SpA. The option to raise the ownership stake involves a Control Option priced at USD 12 million, exercisable by the end of 2026. Further provisions allow Cobre to fully acquire the project if certain conditions are met, with a total purchase price set at USD 68 million before the end of 2027.
Key Points
  • Cobre Chile has executed amendments to increase its ownership in the Sierra Atacama Copper Project.
  • A USD 12 million capital raise allows Cobre Chile to own 54.38% of the total issued share capital in Sierra Atacama.
  • Cobre Chile aims to increase its interest to 63.5% in Sierra Atacama and Bergbau Wagen SpA.
  • The Control Option to increase ownership is priced at USD 12 million and must be exercised by December 31, 2026.
  • The trigger for a call option to acquire 100% of shares is set to occur when MSB’s shareholding falls to 25% or less.
  • The purchase price for full acquisition on or before December 31, 2027, is USD 68 million.
  • Governance revisions permit MSB director rights as long as it retains shares in the project companies.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.